Loprete discusses how in the credit opportunities portion of their portfolio they seek returns commensurate with traditional merger-arbitrage trades, but with a fraction of the downside.

published:20 Apr 2017

views:158

What is EVENT-DRIVEN INVESTING? What does EVENT-DRIVEN INVESTING mean? EVENT-DRIVEN INVESTING meaning - EVENT-DRIVEN INVESTING definition - EVENT-DRIVEN INVESTING explanation.
Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license.
Event-driven investing is a hedge fund investment strategy that seeks to exploit pricing inefficiencies that may occur before or after a corporate event, such as an earnings call, bankruptcy, merger, acquisition, or spinoff.
Event-driven investing strategies are typically used only by sophisticated investors, such as hedge funds and private equity firms. That’s because traditional equity investors, including managers of equity mutual funds, do not have the expertise or access to information necessary to properly analyze the risks associated with many of these corporate events.
This strategy was successfully utilized by Cornwall Capital and profiled in "The Big Short" by Michael Lewis.
Event-driven investing "lost on average 1.4 percent in 2015" making them the poorest performers in 2015 despite a record year of mergers and acquisitions partially because funds over purchased only the largest corporate deals.
According to Philippe Ferreira of Lyxor Asset Management, the healthcare sector — which includes pharmaceuticals — has a sizable exposure to event-driven hedge funds and by August 2015 healthcare had "contributed about 60% of event-driven hedge funds' year-to-date gains...making it the strongest contributor by a large margin." According to Dealogic, by August health care merges and acquisitions (M&A) were up 42%, with "an all-time high of $422.8 billion;" in 2014 the high was $429.3 billion for the entire year and also set a record. New event-driven hedge funds were launched for example, New-York-based Kellner had launched event-driven hedge fund, Capital with Chris Pultz and California-based OmniPartners launched event-driven investing funds such as Omni Event Fund with John Melsom as chief investment officer. Melsom noted that by 2015 there was a lot of consolidation in the healthcare sector especially in pharmaceuticals which gave "exceptionally wide spreads." President Obama's US healthcare reforms led to regulatory uncertainty in healthcare. Melsom's Omni Event Fund returned 14.9% from January through June 2015,
"...helped gains from drug maker Valeant Pharmaceuticals' $11 billion acquisition of specialist drug maker Salix Pharmaceuticals; AbbVie’s acquisition of cancer biotech company Pharmacyclics for $21 billion; and also the decision by US pharmacy benefit manager UnitedHealth to buy rival Catamaran for $12.8 billion."
—?Hedgeweek August 2015

Event-Driven Strategies
Presented by Larry McMillan, President of McMillan Analysis Corporation
Certain event dates are known to the options market in advance (earnings announcements, FDA hearings, etc.). At these times, options' implied volatilities take on a very sharp skew; near-term options, for example, may be quite expensive.
We'll look at how to trade these event-driven strategies, covering strategies involving both the buying and selling of options. The strategies involved are straddle buying, butterfly spreads and dual calendar spreads; each of which can be apropos in multiple situations.

VIDEOFINANCIAL REPORTING
Why Invest in is the first financial video platform where you can easily search through thousands of videos describing global securities.
About The Video:
We believe that complex financial data could become more approachable using friendly motion-graphic representation combined with an accurate selection of financial data. To guarantee the most effective information prospective we drew inspiration from Benjamin Graham’s book: “The Intelligent Investor”, a pillar of financial philosophy.
For this project any kind of suggestion or critic will be helpful in order to develop and provide the best service as we can. Please visit our site www.whyinvestin.com and leave a massage to us.
Thank you and hope you'll enjoy.
IMPORTANT INFORMATION - DISCLAIMER
THIS VIDEO IS FOR INFORMATION PURPOSES ONLY AND SHOULD NOT BE RELIED UPON AS INVESTMENT ADVICE. This video has been prepared by Whyinvestin (together with its affiliates, “Whyinvestin”) and is not intended to be taken by, and should not be taken by, any individual recipient as investment advice, a recommendation to buy, hold or sell any security, or an offer to sell or a solicitation of offers to purchase any security.
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. The performance of the companies discussed on this video is not necessarily indicative of the future performances.
Investors should consider the content of this video in conjunction with investment reports, financial statements and other disclosures regarding the valuations and performance of the specific companies discussed herein.
DO NOT RELY ON ANY OPINIONS, PREDICTIONS OR FORWARD-LOOKING STATEMENTS CONTAINED HEREIN. Certain of the information contained in this video constitutes “forward-looking statements” that are inherently unreliable and actual events or results may differ materially from those reflected or contemplated herein. None of Whyinvestin or any of its representatives makes any assurance as to the accuracy of those predictions or forward-looking statements. Whyinvestin expressly disclaims any obligation or undertaking to update or revise any such forward-looking statements.
EXTERNAL SOURCES. Certain information contained herein has been obtained from third-party sources. Although Whyinvestin believes such sources to be reliable, we make no representation as to its accuracy or completeness.
FINANCIAL DATA. Historical and fundamental data, ratios, exchange rate, prices and estimates are provided by Xignite,www.xignite.com. Data are sourced by Morningstar research.
Whyinvestin does not verify any data and disclaims any obligation to do so. Whyinvestin, its data or content providers, the financial exchanges and each of their affiliates and business partners (A) expressly disclaim the accuracy, adequacy, or completeness of any data and (B) shall not be liable for any errors, omissions or other defects in, delays or interruptions in such data, or for any actions taken in reliance thereon. Neither Whyinvestin nor any of our information providers will be liable for any damages relating to your use of the information provided herein.
Please consult your broker or financial representative to verify pricing before executing any trade. Whyinvestin cannot guarantee the accuracy of the exchange rates used in the videos. You should confirm current rates before making any transactions that could be affected by changes in the exchange rates.
You agree not to copy, modify, reformat, download, store, reproduce, reprocess, transmit or redistribute any data or information found herein or use any such data or information in a commercial enterprise without obtaining prior written consent. Please consult your broker or financial representative to verify pricing before executing any trade.
COPYRIGHT “FAIRUSE” Whyinvestin doesn’t own any logo different from the whyinvestin’ s logo contained in the video. The owner of the logos is the subject of the video itself (the company); and all the logos are not authorized by, sponsored by, or associated with the trademark owner .
Whyinvestin uses exclusive rights held by the copyright owner for Educational purposes and for commentary and criticism as part of a news report or published article.
If you are a company, subject of the video and for any reason want to get in contact with Whyinvestin please email:
company@whyinvestin.com

published:27 Jul 2015

views:11

Jeremy Grantham is a British investor and co-founder and chief investment strategist of Grantham, Mayo, & van Otterloo (GMO), a Boston-based asset management firm. GMO is one of the largest managers of such funds in the world, having more than US$118 billion in assets under management as of March 2015. Grantham is regarded as a highly knowledgeable investor in various stock, bond, and commodity markets, and is particularly noted for his prediction of various bubbles.
Event-driven strategies concern situations in which the underlying investment opportunity and risk are associated with an event. An event-driven investment strategy finds investment opportunities in corporate transactional events such as consolidations, acquisitions, recapitalizations, bankruptcies, and liquidations. Managers employing such a strategy capitalize on valuation inconsistencies in the market before or after such events, and take a position based on the predicted movement of the security or securities in question. Large institutional investors such as hedge funds are more likely to pursue event-driven investing strategies than traditional equity investors because they have the expertise and resources to analyze corporate transactional events for investment opportunities.
Corporate transactional events generally fit into three categories: distressed securities, risk arbitrage, and special situations. Distressed securities include such events as restructurings, recapitalizations, and bankruptcies. A distressed securities investment strategy involves investing in the bonds or loans of companies facing bankruptcy or severe financial distress, when these bonds or loans are being traded at a discount to their value. Hedge fund managers pursuing the distressed debt investment strategy aim to capitalize on depressed bond prices. Hedge funds purchasing distressed debt may prevent those companies from going bankrupt, as such an acquisition deters foreclosure by banks. While event-driven investing in general tends to thrive during a bull market, distressed investing works best during a bear market.
Risk arbitrage or merger arbitrage includes such events as mergers, acquisitions, liquidations, and hostile takeovers.[66] Risk arbitrage typically involves buying and selling the stocks of two or more merging companies to take advantage of market discrepancies between acquisition price and stock price. The risk element arises from the possibility that the merger or acquisition will not go ahead as planned; hedge fund managers will use research and analysis to determine if the event will take place.
Special situations are events that impact the value of a company's stock, including the restructuring of a company or corporate transactions including spin-offs, share-buy-backs, security issuance/repurchase, asset sales, or other catalyst-oriented situations. To take advantage of special situations the hedge fund manager must identify an upcoming event that will increase or decrease the value of the company's equity and equity-related instruments.
Other event-driven strategies include: credit arbitrage strategies, which focus on corporate fixed income securities; an activist strategy, where the fund takes large positions in companies and uses the ownership to participate in the management; a strategy based on predicting the final approval of new pharmaceutical drugs; and legal catalyst strategy, which specializes in companies involved in major lawsuits.
FAIRUSE NOTICE: This channel may make use of copyrighted material. This channel gains no profit from broadcasted content. In accordance with Title 17 U.S.C. Section 107, the material on this channel is offered publicly and without profit, to the public users of the internet for comment, non-profit, educational, and informational purpose. No copyright is claimed. This content is being posted here for financial educational purposes, so that investors will have a better understanding of financial markets.

published:08 Feb 2018

views:901

published:06 Nov 2015

views:220

This video will take you thought the basic mechanics of merger arbitrage. This is an investing style that attempts to create stable returns by purchasing shares of companies that have been announced publically are being acquired.
We’ll use an example of Warren Buffett his purchase of the Heinz Ketchup company to make the concept simpler to understand.
To discuss how you can add this strategy or other alternative strategies that can help protect your money in difficult markets, please call me and set up an appointment.
Dustin Van Der Hout is a portfolio manager that works with clients with a minimum of $1,000,000 of investable assets. He has a specialty in the use of alternative investments to protect capital and value investing to create value.
Dustin Van Der Hout
416-512-3698
www.dir.richardsongmp.com/web/dustin.vanderhout

published:24 Aug 2016

views:8772

THE MANAGER OF THE COLLINS ALTERNATIVE SOLUTIONS FUND, SAYS EVENT-DRIVEN & ACTIVIST HEDGE FUND STRATEGIES CURRENTLY ARE MOST ATTRACTIVE AND COULD RETURNLOW DOUBLE-DIGITS.
ANCHOR (OFF-CAMERA) ENGLISH SAYING:
Let me start first by asking you bout the stock market which has hit record after record, your opinion on what we're seeing in stocks; and when you have a market off to the races, is it the right time to move into alternatives?
STEVE MASON, MANAGER, COLLINS ALTERNATIVE SOLUTIONS FUND, (ENGLISH) SAYING:
Yeah, surely. It has been quite a year. If you look at stocks historically, you know, just based on raw fundamentals like P/E, you know, you can make an argument I think both ways. And I think that's kind of where we come down currently that it's not really rich or cheap right now so it's hard to make a directional call at this stage. And I think that suits alternatives very well. You still have a good technical backdrop for equities and an environment where you can have good situations in picking both longs and shorts which is always a very good environment for alternatives and specifically hedge fund strategies.
ANCHOR (OFF-CAMERA) ENGLISH SAYING:
And in fact, your fund uses several different strategies. Which strategy seems to be working best? Is it the long-short strategy or something else?
STEVE MASON, MANAGER, COLLINS ALTERNATIVE SOLUTIONS FUND, (ENGLISH) SAYING:
We think event-driven and activism are in very good environments right now and there's a few reasons why. If you look at the tailwind for those type of strategies, increased M&A, cash on companies' balance sheets continues to be at record levels in open credit market. All of those are very favorable backdrops for both event and activism. You know, specifically with activism, you know the situation in addition where you have that favorable environment which you have boards that are much more receptive to constructive dialogue from activist investors. And that's something that's only changed in the past two or three years. So we think when you combine all those together, you have a favorable backdrop for those type of strategies. But generally speaking, long/short equ...

published:27 Nov 2013

views:128

KPPC has been formed as a roll-up in the paper and packaging industry by a Special PurposeAcquisitionCorporation (SPAC). A SPAC issues shares and warrants to investors and uses to capital to perform an acquisition. As a result, KPPC had a large number of warrants expire on Aug 17, which created an overhang on the stock and in interesting dynamic. The share price was range bound for 3 months and then traded up 30% in just a couple of days. We are using this situation as an example of event-driven investing.

published:06 Sep 2009

views:643

The surge in deal-making has created the ideal environment for merger arbitrage or event-driven funds, said K.C.Nelson, portfolio manager for the Driehaus EventDriven Fund. Nelson added that the Driehaus fund uses stocks, bonds and equity and credit derivatives to establish a position on a deal. He said his fund profited from the risk arbitrage spread in the attempted merger between Comcast and Time Warner Cable and believes there is better than a 50/50 chance that Time Warner Cable will be acquired by Charter Communications. Meanwhile, Nelson said he is long Teva through call options as it pursues Mylan.
Subscribe to TheStreetTV on YouTube: http://t.st/TheStreetTV
For more content from TheStreet visit: http://thestreet.com
Check out all our videos: http://youtube.com/user/TheStreetTV
Follow TheStreet on Twitter: http://twitter.com/thestreet
Like TheStreet on Facebook: http://facebook.com/TheStreet
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Arbitrage

In economics and finance, arbitrage (US/ˈɑːrbᵻtrɑːʒ/, UK/ˈɑːbᵻtrɪdʒ/, UK/ˌɑːbᵻtrˈɑːʒ/) is the practice of taking advantage of a price difference between two or more markets: striking a combination of matching deals that capitalize upon the imbalance, the profit being the difference between the market prices. When used by academics, an arbitrage is a transaction that involves no negative cash flow at any probabilistic or temporal state and a positive cash flow in at least one state; in simple terms, it is the possibility of a risk-free profit after transaction costs. For instance, an arbitrage is present when there is the opportunity to instantaneously buy low and sell high.

In principle and in academic use, an arbitrage is risk-free; in common use, as in statistical arbitrage, it may refer to expected profit, though losses may occur, and in practice, there are always risks in arbitrage, some minor (such as fluctuation of prices decreasing profit margins), some major (such as devaluation of a currency or derivative). In academic use, an arbitrage involves taking advantage of differences in price of a single asset or identical cash-flows; in common use, it is also used to refer to differences between similar assets (relative value or convergence trades), as in merger arbitrage.

Gregg Loprete on Water Island Capital’s Arbitrage and Event-Driven Strategy

Gregg Loprete on Water Island Capital’s Arbitrage and Event-Driven Strategy

Gregg Loprete on Water Island Capital’s Arbitrage and Event-Driven Strategy

Loprete discusses how in the credit opportunities portion of their portfolio they seek returns commensurate with traditional merger-arbitrage trades, but with a fraction of the downside.

3:19

What is EVENT-DRIVEN INVESTING? What does EVENT-DRIVEN INVESTING mean?

What is EVENT-DRIVEN INVESTING? What does EVENT-DRIVEN INVESTING mean?

What is EVENT-DRIVEN INVESTING? What does EVENT-DRIVEN INVESTING mean?

What is EVENT-DRIVEN INVESTING? What does EVENT-DRIVEN INVESTING mean? EVENT-DRIVEN INVESTING meaning - EVENT-DRIVEN INVESTING definition - EVENT-DRIVEN INVESTING explanation.
Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license.
Event-driven investing is a hedge fund investment strategy that seeks to exploit pricing inefficiencies that may occur before or after a corporate event, such as an earnings call, bankruptcy, merger, acquisition, or spinoff.
Event-driven investing strategies are typically used only by sophisticated investors, such as hedge funds and private equity firms. That’s because traditional equity investors, including managers of equity mutual funds, do not have the expertise or access to information necessary to properly analyze the risks associated with many of these corporate events.
This strategy was successfully utilized by Cornwall Capital and profiled in "The Big Short" by Michael Lewis.
Event-driven investing "lost on average 1.4 percent in 2015" making them the poorest performers in 2015 despite a record year of mergers and acquisitions partially because funds over purchased only the largest corporate deals.
According to Philippe Ferreira of Lyxor Asset Management, the healthcare sector — which includes pharmaceuticals — has a sizable exposure to event-driven hedge funds and by August 2015 healthcare had "contributed about 60% of event-driven hedge funds' year-to-date gains...making it the strongest contributor by a large margin." According to Dealogic, by August health care merges and acquisitions (M&A) were up 42%, with "an all-time high of $422.8 billion;" in 2014 the high was $429.3 billion for the entire year and also set a record. New event-driven hedge funds were launched for example, New-York-based Kellner had launched event-driven hedge fund, Capital with Chris Pultz and California-based OmniPartners launched event-driven investing funds such as Omni Event Fund with John Melsom as chief investment officer. Melsom noted that by 2015 there was a lot of consolidation in the healthcare sector especially in pharmaceuticals which gave "exceptionally wide spreads." President Obama's US healthcare reforms led to regulatory uncertainty in healthcare. Melsom's Omni Event Fund returned 14.9% from January through June 2015,
"...helped gains from drug maker Valeant Pharmaceuticals' $11 billion acquisition of specialist drug maker Salix Pharmaceuticals; AbbVie’s acquisition of cancer biotech company Pharmacyclics for $21 billion; and also the decision by US pharmacy benefit manager UnitedHealth to buy rival Catamaran for $12.8 billion."
—?Hedgeweek August 2015

0:44

For Deal Makers - Merger Arbitrage: How To Profit From Event-Driven Arbitrage

For Deal Makers - Merger Arbitrage: How To Profit From Event-Driven Arbitrage

For Deal Makers - Merger Arbitrage: How To Profit From Event-Driven Arbitrage

Event-Driven Strategies

Event-Driven Strategies
Presented by Larry McMillan, President of McMillan Analysis Corporation
Certain event dates are known to the options market in advance (earnings announcements, FDA hearings, etc.). At these times, options' implied volatilities take on a very sharp skew; near-term options, for example, may be quite expensive.
We'll look at how to trade these event-driven strategies, covering strategies involving both the buying and selling of options. The strategies involved are straddle buying, butterfly spreads and dual calendar spreads; each of which can be apropos in multiple situations.

0:46

For Investors - Merger Arbitrage: How To Profit From Event-Driven Arbitrage

For Investors - Merger Arbitrage: How To Profit From Event-Driven Arbitrage

For Investors - Merger Arbitrage: How To Profit From Event-Driven Arbitrage

Arbitrage Event Driven A

VIDEOFINANCIAL REPORTING
Why Invest in is the first financial video platform where you can easily search through thousands of videos describing global securities.
About The Video:
We believe that complex financial data could become more approachable using friendly motion-graphic representation combined with an accurate selection of financial data. To guarantee the most effective information prospective we drew inspiration from Benjamin Graham’s book: “The Intelligent Investor”, a pillar of financial philosophy.
For this project any kind of suggestion or critic will be helpful in order to develop and provide the best service as we can. Please visit our site www.whyinvestin.com and leave a massage to us.
Thank you and hope you'll enjoy.
IMPORTANT INFORMATION - DISCLAIMER
THIS VIDEO IS FOR INFORMATION PURPOSES ONLY AND SHOULD NOT BE RELIED UPON AS INVESTMENT ADVICE. This video has been prepared by Whyinvestin (together with its affiliates, “Whyinvestin”) and is not intended to be taken by, and should not be taken by, any individual recipient as investment advice, a recommendation to buy, hold or sell any security, or an offer to sell or a solicitation of offers to purchase any security.
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. The performance of the companies discussed on this video is not necessarily indicative of the future performances.
Investors should consider the content of this video in conjunction with investment reports, financial statements and other disclosures regarding the valuations and performance of the specific companies discussed herein.
DO NOT RELY ON ANY OPINIONS, PREDICTIONS OR FORWARD-LOOKING STATEMENTS CONTAINED HEREIN. Certain of the information contained in this video constitutes “forward-looking statements” that are inherently unreliable and actual events or results may differ materially from those reflected or contemplated herein. None of Whyinvestin or any of its representatives makes any assurance as to the accuracy of those predictions or forward-looking statements. Whyinvestin expressly disclaims any obligation or undertaking to update or revise any such forward-looking statements.
EXTERNAL SOURCES. Certain information contained herein has been obtained from third-party sources. Although Whyinvestin believes such sources to be reliable, we make no representation as to its accuracy or completeness.
FINANCIAL DATA. Historical and fundamental data, ratios, exchange rate, prices and estimates are provided by Xignite,www.xignite.com. Data are sourced by Morningstar research.
Whyinvestin does not verify any data and disclaims any obligation to do so. Whyinvestin, its data or content providers, the financial exchanges and each of their affiliates and business partners (A) expressly disclaim the accuracy, adequacy, or completeness of any data and (B) shall not be liable for any errors, omissions or other defects in, delays or interruptions in such data, or for any actions taken in reliance thereon. Neither Whyinvestin nor any of our information providers will be liable for any damages relating to your use of the information provided herein.
Please consult your broker or financial representative to verify pricing before executing any trade. Whyinvestin cannot guarantee the accuracy of the exchange rates used in the videos. You should confirm current rates before making any transactions that could be affected by changes in the exchange rates.
You agree not to copy, modify, reformat, download, store, reproduce, reprocess, transmit or redistribute any data or information found herein or use any such data or information in a commercial enterprise without obtaining prior written consent. Please consult your broker or financial representative to verify pricing before executing any trade.
COPYRIGHT “FAIRUSE” Whyinvestin doesn’t own any logo different from the whyinvestin’ s logo contained in the video. The owner of the logos is the subject of the video itself (the company); and all the logos are not authorized by, sponsored by, or associated with the trademark owner .
Whyinvestin uses exclusive rights held by the copyright owner for Educational purposes and for commentary and criticism as part of a news report or published article.
If you are a company, subject of the video and for any reason want to get in contact with Whyinvestin please email:
company@whyinvestin.com

Jeremy Grantham is a British investor and co-founder and chief investment strategist of Grantham, Mayo, & van Otterloo (GMO), a Boston-based asset management firm. GMO is one of the largest managers of such funds in the world, having more than US$118 billion in assets under management as of March 2015. Grantham is regarded as a highly knowledgeable investor in various stock, bond, and commodity markets, and is particularly noted for his prediction of various bubbles.
Event-driven strategies concern situations in which the underlying investment opportunity and risk are associated with an event. An event-driven investment strategy finds investment opportunities in corporate transactional events such as consolidations, acquisitions, recapitalizations, bankruptcies, and liquidations. Managers employing such a strategy capitalize on valuation inconsistencies in the market before or after such events, and take a position based on the predicted movement of the security or securities in question. Large institutional investors such as hedge funds are more likely to pursue event-driven investing strategies than traditional equity investors because they have the expertise and resources to analyze corporate transactional events for investment opportunities.
Corporate transactional events generally fit into three categories: distressed securities, risk arbitrage, and special situations. Distressed securities include such events as restructurings, recapitalizations, and bankruptcies. A distressed securities investment strategy involves investing in the bonds or loans of companies facing bankruptcy or severe financial distress, when these bonds or loans are being traded at a discount to their value. Hedge fund managers pursuing the distressed debt investment strategy aim to capitalize on depressed bond prices. Hedge funds purchasing distressed debt may prevent those companies from going bankrupt, as such an acquisition deters foreclosure by banks. While event-driven investing in general tends to thrive during a bull market, distressed investing works best during a bear market.
Risk arbitrage or merger arbitrage includes such events as mergers, acquisitions, liquidations, and hostile takeovers.[66] Risk arbitrage typically involves buying and selling the stocks of two or more merging companies to take advantage of market discrepancies between acquisition price and stock price. The risk element arises from the possibility that the merger or acquisition will not go ahead as planned; hedge fund managers will use research and analysis to determine if the event will take place.
Special situations are events that impact the value of a company's stock, including the restructuring of a company or corporate transactions including spin-offs, share-buy-backs, security issuance/repurchase, asset sales, or other catalyst-oriented situations. To take advantage of special situations the hedge fund manager must identify an upcoming event that will increase or decrease the value of the company's equity and equity-related instruments.
Other event-driven strategies include: credit arbitrage strategies, which focus on corporate fixed income securities; an activist strategy, where the fund takes large positions in companies and uses the ownership to participate in the management; a strategy based on predicting the final approval of new pharmaceutical drugs; and legal catalyst strategy, which specializes in companies involved in major lawsuits.
FAIRUSE NOTICE: This channel may make use of copyrighted material. This channel gains no profit from broadcasted content. In accordance with Title 17 U.S.C. Section 107, the material on this channel is offered publicly and without profit, to the public users of the internet for comment, non-profit, educational, and informational purpose. No copyright is claimed. This content is being posted here for financial educational purposes, so that investors will have a better understanding of financial markets.

1:45

What are “event-driven hedge funds”?

What are “event-driven hedge funds”?

What are “event-driven hedge funds”?

3:52

The Basics Of Merger Arbitrage

The Basics Of Merger Arbitrage

The Basics Of Merger Arbitrage

This video will take you thought the basic mechanics of merger arbitrage. This is an investing style that attempts to create stable returns by purchasing shares of companies that have been announced publically are being acquired.
We’ll use an example of Warren Buffett his purchase of the Heinz Ketchup company to make the concept simpler to understand.
To discuss how you can add this strategy or other alternative strategies that can help protect your money in difficult markets, please call me and set up an appointment.
Dustin Van Der Hout is a portfolio manager that works with clients with a minimum of $1,000,000 of investable assets. He has a specialty in the use of alternative investments to protect capital and value investing to create value.
Dustin Van Der Hout
416-512-3698
www.dir.richardsongmp.com/web/dustin.vanderhout

THE MANAGER OF THE COLLINS ALTERNATIVE SOLUTIONS FUND, SAYS EVENT-DRIVEN & ACTIVIST HEDGE FUND STRATEGIES CURRENTLY ARE MOST ATTRACTIVE AND COULD RETURNLOW DOUBLE-DIGITS.
ANCHOR (OFF-CAMERA) ENGLISH SAYING:
Let me start first by asking you bout the stock market which has hit record after record, your opinion on what we're seeing in stocks; and when you have a market off to the races, is it the right time to move into alternatives?
STEVE MASON, MANAGER, COLLINS ALTERNATIVE SOLUTIONS FUND, (ENGLISH) SAYING:
Yeah, surely. It has been quite a year. If you look at stocks historically, you know, just based on raw fundamentals like P/E, you know, you can make an argument I think both ways. And I think that's kind of where we come down currently that it's not really rich or cheap right now so it's hard to make a directional call at this stage. And I think that suits alternatives very well. You still have a good technical backdrop for equities and an environment where you can have good situations in picking both longs and shorts which is always a very good environment for alternatives and specifically hedge fund strategies.
ANCHOR (OFF-CAMERA) ENGLISH SAYING:
And in fact, your fund uses several different strategies. Which strategy seems to be working best? Is it the long-short strategy or something else?
STEVE MASON, MANAGER, COLLINS ALTERNATIVE SOLUTIONS FUND, (ENGLISH) SAYING:
We think event-driven and activism are in very good environments right now and there's a few reasons why. If you look at the tailwind for those type of strategies, increased M&A, cash on companies' balance sheets continues to be at record levels in open credit market. All of those are very favorable backdrops for both event and activism. You know, specifically with activism, you know the situation in addition where you have that favorable environment which you have boards that are much more receptive to constructive dialogue from activist investors. And that's something that's only changed in the past two or three years. So we think when you combine all those together, you have a favorable backdrop for those type of strategies. But generally speaking, long/short equ...

2:22

Event-driven Investing: KPPC (part 1 of 4)

Event-driven Investing: KPPC (part 1 of 4)

Event-driven Investing: KPPC (part 1 of 4)

KPPC has been formed as a roll-up in the paper and packaging industry by a Special PurposeAcquisitionCorporation (SPAC). A SPAC issues shares and warrants to investors and uses to capital to perform an acquisition. As a result, KPPC had a large number of warrants expire on Aug 17, which created an overhang on the stock and in interesting dynamic. The share price was range bound for 3 months and then traded up 30% in just a couple of days. We are using this situation as an example of event-driven investing.

4:38

Banner Days for Event-Driven Funds Due to Dealmaking Frenzy

Banner Days for Event-Driven Funds Due to Dealmaking Frenzy

Banner Days for Event-Driven Funds Due to Dealmaking Frenzy

The surge in deal-making has created the ideal environment for merger arbitrage or event-driven funds, said K.C.Nelson, portfolio manager for the Driehaus EventDriven Fund. Nelson added that the Driehaus fund uses stocks, bonds and equity and credit derivatives to establish a position on a deal. He said his fund profited from the risk arbitrage spread in the attempted merger between Comcast and Time Warner Cable and believes there is better than a 50/50 chance that Time Warner Cable will be acquired by Charter Communications. Meanwhile, Nelson said he is long Teva through call options as it pursues Mylan.
Subscribe to TheStreetTV on YouTube: http://t.st/TheStreetTV
For more content from TheStreet visit: http://thestreet.com
Check out all our videos: http://youtube.com/user/TheStreetTV
Follow TheStreet on Twitter: http://twitter.com/thestreet
Like TheStreet on Facebook: http://facebook.com/TheStreet
Follow TheStreet on LinkedIn: http://linkedin.com/company/theStreet
Follow TheStreet on Google+: http://plus.google.com/+TheStreet

Merger Arbitrage A Fundamental Approach to Event Driven Investing

Gregg Loprete on Water Island Capital’s Arbitrage and Event-Driven Strategy

Loprete discusses how in the credit opportunities portion of their portfolio they seek returns commensurate with traditional merger-arbitrage trades, but with a fraction of the downside.

published: 20 Apr 2017

What is EVENT-DRIVEN INVESTING? What does EVENT-DRIVEN INVESTING mean?

What is EVENT-DRIVEN INVESTING? What does EVENT-DRIVEN INVESTING mean? EVENT-DRIVEN INVESTING meaning - EVENT-DRIVEN INVESTING definition - EVENT-DRIVEN INVESTING explanation.
Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license.
Event-driven investing is a hedge fund investment strategy that seeks to exploit pricing inefficiencies that may occur before or after a corporate event, such as an earnings call, bankruptcy, merger, acquisition, or spinoff.
Event-driven investing strategies are typically used only by sophisticated investors, such as hedge funds and private equity firms. That’s because traditional equity investors, including managers of equity mutual funds, do not have the expertise or access to information necessary to properly a...

published: 23 May 2017

For Deal Makers - Merger Arbitrage: How To Profit From Event-Driven Arbitrage

Event-Driven Strategies

Event-Driven Strategies
Presented by Larry McMillan, President of McMillan Analysis Corporation
Certain event dates are known to the options market in advance (earnings announcements, FDA hearings, etc.). At these times, options' implied volatilities take on a very sharp skew; near-term options, for example, may be quite expensive.
We'll look at how to trade these event-driven strategies, covering strategies involving both the buying and selling of options. The strategies involved are straddle buying, butterfly spreads and dual calendar spreads; each of which can be apropos in multiple situations.

published: 04 Dec 2012

For Investors - Merger Arbitrage: How To Profit From Event-Driven Arbitrage

Arbitrage Event Driven A

VIDEOFINANCIAL REPORTING
Why Invest in is the first financial video platform where you can easily search through thousands of videos describing global securities.
About The Video:
We believe that complex financial data could become more approachable using friendly motion-graphic representation combined with an accurate selection of financial data. To guarantee the most effective information prospective we drew inspiration from Benjamin Graham’s book: “The Intelligent Investor”, a pillar of financial philosophy.
For this project any kind of suggestion or critic will be helpful in order to develop and provide the best service as we can. Please visit our site www.whyinvestin.com and leave a massage to us.
Thank you and hope you'll enjoy.
IMPORTANT INFORMATION - DISCLAIMER
THIS VIDEO IS ...

Jeremy Grantham is a British investor and co-founder and chief investment strategist of Grantham, Mayo, & van Otterloo (GMO), a Boston-based asset management firm. GMO is one of the largest managers of such funds in the world, having more than US$118 billion in assets under management as of March 2015. Grantham is regarded as a highly knowledgeable investor in various stock, bond, and commodity markets, and is particularly noted for his prediction of various bubbles.
Event-driven strategies concern situations in which the underlying investment opportunity and risk are associated with an event. An event-driven investment strategy finds investment opportunities in corporate transactional events such as consolidations, acquisitions, recapitalizations, bankruptcies, and liquidations. Managers...

published: 08 Feb 2018

What are “event-driven hedge funds”?

published: 06 Nov 2015

The Basics Of Merger Arbitrage

This video will take you thought the basic mechanics of merger arbitrage. This is an investing style that attempts to create stable returns by purchasing shares of companies that have been announced publically are being acquired.
We’ll use an example of Warren Buffett his purchase of the Heinz Ketchup company to make the concept simpler to understand.
To discuss how you can add this strategy or other alternative strategies that can help protect your money in difficult markets, please call me and set up an appointment.
Dustin Van Der Hout is a portfolio manager that works with clients with a minimum of $1,000,000 of investable assets. He has a specialty in the use of alternative investments to protect capital and value investing to create value.
Dustin Van Der Hout
416-512-3698
www.dir....

THE MANAGER OF THE COLLINS ALTERNATIVE SOLUTIONS FUND, SAYS EVENT-DRIVEN & ACTIVIST HEDGE FUND STRATEGIES CURRENTLY ARE MOST ATTRACTIVE AND COULD RETURNLOW DOUBLE-DIGITS.
ANCHOR (OFF-CAMERA) ENGLISH SAYING:
Let me start first by asking you bout the stock market which has hit record after record, your opinion on what we're seeing in stocks; and when you have a market off to the races, is it the right time to move into alternatives?
STEVE MASON, MANAGER, COLLINS ALTERNATIVE SOLUTIONS FUND, (ENGLISH) SAYING:
Yeah, surely. It has been quite a year. If you look at stocks historically, you know, just based on raw fundamentals like P/E, you know, you can make an argument I think both ways. And I think that's kind of where we come down currently that it's not really rich or cheap right now so i...

published: 27 Nov 2013

Event-driven Investing: KPPC (part 1 of 4)

KPPC has been formed as a roll-up in the paper and packaging industry by a Special PurposeAcquisitionCorporation (SPAC). A SPAC issues shares and warrants to investors and uses to capital to perform an acquisition. As a result, KPPC had a large number of warrants expire on Aug 17, which created an overhang on the stock and in interesting dynamic. The share price was range bound for 3 months and then traded up 30% in just a couple of days. We are using this situation as an example of event-driven investing.

published: 06 Sep 2009

Banner Days for Event-Driven Funds Due to Dealmaking Frenzy

The surge in deal-making has created the ideal environment for merger arbitrage or event-driven funds, said K.C.Nelson, portfolio manager for the Driehaus EventDriven Fund. Nelson added that the Driehaus fund uses stocks, bonds and equity and credit derivatives to establish a position on a deal. He said his fund profited from the risk arbitrage spread in the attempted merger between Comcast and Time Warner Cable and believes there is better than a 50/50 chance that Time Warner Cable will be acquired by Charter Communications. Meanwhile, Nelson said he is long Teva through call options as it pursues Mylan.
Subscribe to TheStreetTV on YouTube: http://t.st/TheStreetTV
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Check out all our videos: http://youtube.com/user/TheStreetT...

What is EVENT-DRIVEN INVESTING? What does EVENT-DRIVEN INVESTING mean? EVENT-DRIVEN INVESTING meaning - EVENT-DRIVEN INVESTING definition - EVENT-DRIVEN INVESTING explanation.
Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license.
Event-driven investing is a hedge fund investment strategy that seeks to exploit pricing inefficiencies that may occur before or after a corporate event, such as an earnings call, bankruptcy, merger, acquisition, or spinoff.
Event-driven investing strategies are typically used only by sophisticated investors, such as hedge funds and private equity firms. That’s because traditional equity investors, including managers of equity mutual funds, do not have the expertise or access to information necessary to properly analyze the risks associated with many of these corporate events.
This strategy was successfully utilized by Cornwall Capital and profiled in "The Big Short" by Michael Lewis.
Event-driven investing "lost on average 1.4 percent in 2015" making them the poorest performers in 2015 despite a record year of mergers and acquisitions partially because funds over purchased only the largest corporate deals.
According to Philippe Ferreira of Lyxor Asset Management, the healthcare sector — which includes pharmaceuticals — has a sizable exposure to event-driven hedge funds and by August 2015 healthcare had "contributed about 60% of event-driven hedge funds' year-to-date gains...making it the strongest contributor by a large margin." According to Dealogic, by August health care merges and acquisitions (M&A) were up 42%, with "an all-time high of $422.8 billion;" in 2014 the high was $429.3 billion for the entire year and also set a record. New event-driven hedge funds were launched for example, New-York-based Kellner had launched event-driven hedge fund, Capital with Chris Pultz and California-based OmniPartners launched event-driven investing funds such as Omni Event Fund with John Melsom as chief investment officer. Melsom noted that by 2015 there was a lot of consolidation in the healthcare sector especially in pharmaceuticals which gave "exceptionally wide spreads." President Obama's US healthcare reforms led to regulatory uncertainty in healthcare. Melsom's Omni Event Fund returned 14.9% from January through June 2015,
"...helped gains from drug maker Valeant Pharmaceuticals' $11 billion acquisition of specialist drug maker Salix Pharmaceuticals; AbbVie’s acquisition of cancer biotech company Pharmacyclics for $21 billion; and also the decision by US pharmacy benefit manager UnitedHealth to buy rival Catamaran for $12.8 billion."
—?Hedgeweek August 2015

What is EVENT-DRIVEN INVESTING? What does EVENT-DRIVEN INVESTING mean? EVENT-DRIVEN INVESTING meaning - EVENT-DRIVEN INVESTING definition - EVENT-DRIVEN INVESTING explanation.
Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license.
Event-driven investing is a hedge fund investment strategy that seeks to exploit pricing inefficiencies that may occur before or after a corporate event, such as an earnings call, bankruptcy, merger, acquisition, or spinoff.
Event-driven investing strategies are typically used only by sophisticated investors, such as hedge funds and private equity firms. That’s because traditional equity investors, including managers of equity mutual funds, do not have the expertise or access to information necessary to properly analyze the risks associated with many of these corporate events.
This strategy was successfully utilized by Cornwall Capital and profiled in "The Big Short" by Michael Lewis.
Event-driven investing "lost on average 1.4 percent in 2015" making them the poorest performers in 2015 despite a record year of mergers and acquisitions partially because funds over purchased only the largest corporate deals.
According to Philippe Ferreira of Lyxor Asset Management, the healthcare sector — which includes pharmaceuticals — has a sizable exposure to event-driven hedge funds and by August 2015 healthcare had "contributed about 60% of event-driven hedge funds' year-to-date gains...making it the strongest contributor by a large margin." According to Dealogic, by August health care merges and acquisitions (M&A) were up 42%, with "an all-time high of $422.8 billion;" in 2014 the high was $429.3 billion for the entire year and also set a record. New event-driven hedge funds were launched for example, New-York-based Kellner had launched event-driven hedge fund, Capital with Chris Pultz and California-based OmniPartners launched event-driven investing funds such as Omni Event Fund with John Melsom as chief investment officer. Melsom noted that by 2015 there was a lot of consolidation in the healthcare sector especially in pharmaceuticals which gave "exceptionally wide spreads." President Obama's US healthcare reforms led to regulatory uncertainty in healthcare. Melsom's Omni Event Fund returned 14.9% from January through June 2015,
"...helped gains from drug maker Valeant Pharmaceuticals' $11 billion acquisition of specialist drug maker Salix Pharmaceuticals; AbbVie’s acquisition of cancer biotech company Pharmacyclics for $21 billion; and also the decision by US pharmacy benefit manager UnitedHealth to buy rival Catamaran for $12.8 billion."
—?Hedgeweek August 2015

published:23 May 2017

views:157

back

For Deal Makers - Merger Arbitrage: How To Profit From Event-Driven Arbitrage

Event-Driven Strategies
Presented by Larry McMillan, President of McMillan Analysis Corporation
Certain event dates are known to the options market in advance (earnings announcements, FDA hearings, etc.). At these times, options' implied volatilities take on a very sharp skew; near-term options, for example, may be quite expensive.
We'll look at how to trade these event-driven strategies, covering strategies involving both the buying and selling of options. The strategies involved are straddle buying, butterfly spreads and dual calendar spreads; each of which can be apropos in multiple situations.

Event-Driven Strategies
Presented by Larry McMillan, President of McMillan Analysis Corporation
Certain event dates are known to the options market in advance (earnings announcements, FDA hearings, etc.). At these times, options' implied volatilities take on a very sharp skew; near-term options, for example, may be quite expensive.
We'll look at how to trade these event-driven strategies, covering strategies involving both the buying and selling of options. The strategies involved are straddle buying, butterfly spreads and dual calendar spreads; each of which can be apropos in multiple situations.

published:04 Dec 2012

views:1998

back

For Investors - Merger Arbitrage: How To Profit From Event-Driven Arbitrage

Arbitrage Event Driven A

VIDEOFINANCIAL REPORTING
Why Invest in is the first financial video platform where you can easily search through thousands of videos describing global securit...

VIDEOFINANCIAL REPORTING
Why Invest in is the first financial video platform where you can easily search through thousands of videos describing global securities.
About The Video:
We believe that complex financial data could become more approachable using friendly motion-graphic representation combined with an accurate selection of financial data. To guarantee the most effective information prospective we drew inspiration from Benjamin Graham’s book: “The Intelligent Investor”, a pillar of financial philosophy.
For this project any kind of suggestion or critic will be helpful in order to develop and provide the best service as we can. Please visit our site www.whyinvestin.com and leave a massage to us.
Thank you and hope you'll enjoy.
IMPORTANT INFORMATION - DISCLAIMER
THIS VIDEO IS FOR INFORMATION PURPOSES ONLY AND SHOULD NOT BE RELIED UPON AS INVESTMENT ADVICE. This video has been prepared by Whyinvestin (together with its affiliates, “Whyinvestin”) and is not intended to be taken by, and should not be taken by, any individual recipient as investment advice, a recommendation to buy, hold or sell any security, or an offer to sell or a solicitation of offers to purchase any security.
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. The performance of the companies discussed on this video is not necessarily indicative of the future performances.
Investors should consider the content of this video in conjunction with investment reports, financial statements and other disclosures regarding the valuations and performance of the specific companies discussed herein.
DO NOT RELY ON ANY OPINIONS, PREDICTIONS OR FORWARD-LOOKING STATEMENTS CONTAINED HEREIN. Certain of the information contained in this video constitutes “forward-looking statements” that are inherently unreliable and actual events or results may differ materially from those reflected or contemplated herein. None of Whyinvestin or any of its representatives makes any assurance as to the accuracy of those predictions or forward-looking statements. Whyinvestin expressly disclaims any obligation or undertaking to update or revise any such forward-looking statements.
EXTERNAL SOURCES. Certain information contained herein has been obtained from third-party sources. Although Whyinvestin believes such sources to be reliable, we make no representation as to its accuracy or completeness.
FINANCIAL DATA. Historical and fundamental data, ratios, exchange rate, prices and estimates are provided by Xignite,www.xignite.com. Data are sourced by Morningstar research.
Whyinvestin does not verify any data and disclaims any obligation to do so. Whyinvestin, its data or content providers, the financial exchanges and each of their affiliates and business partners (A) expressly disclaim the accuracy, adequacy, or completeness of any data and (B) shall not be liable for any errors, omissions or other defects in, delays or interruptions in such data, or for any actions taken in reliance thereon. Neither Whyinvestin nor any of our information providers will be liable for any damages relating to your use of the information provided herein.
Please consult your broker or financial representative to verify pricing before executing any trade. Whyinvestin cannot guarantee the accuracy of the exchange rates used in the videos. You should confirm current rates before making any transactions that could be affected by changes in the exchange rates.
You agree not to copy, modify, reformat, download, store, reproduce, reprocess, transmit or redistribute any data or information found herein or use any such data or information in a commercial enterprise without obtaining prior written consent. Please consult your broker or financial representative to verify pricing before executing any trade.
COPYRIGHT “FAIRUSE” Whyinvestin doesn’t own any logo different from the whyinvestin’ s logo contained in the video. The owner of the logos is the subject of the video itself (the company); and all the logos are not authorized by, sponsored by, or associated with the trademark owner .
Whyinvestin uses exclusive rights held by the copyright owner for Educational purposes and for commentary and criticism as part of a news report or published article.
If you are a company, subject of the video and for any reason want to get in contact with Whyinvestin please email:
company@whyinvestin.com

VIDEOFINANCIAL REPORTING
Why Invest in is the first financial video platform where you can easily search through thousands of videos describing global securities.
About The Video:
We believe that complex financial data could become more approachable using friendly motion-graphic representation combined with an accurate selection of financial data. To guarantee the most effective information prospective we drew inspiration from Benjamin Graham’s book: “The Intelligent Investor”, a pillar of financial philosophy.
For this project any kind of suggestion or critic will be helpful in order to develop and provide the best service as we can. Please visit our site www.whyinvestin.com and leave a massage to us.
Thank you and hope you'll enjoy.
IMPORTANT INFORMATION - DISCLAIMER
THIS VIDEO IS FOR INFORMATION PURPOSES ONLY AND SHOULD NOT BE RELIED UPON AS INVESTMENT ADVICE. This video has been prepared by Whyinvestin (together with its affiliates, “Whyinvestin”) and is not intended to be taken by, and should not be taken by, any individual recipient as investment advice, a recommendation to buy, hold or sell any security, or an offer to sell or a solicitation of offers to purchase any security.
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. The performance of the companies discussed on this video is not necessarily indicative of the future performances.
Investors should consider the content of this video in conjunction with investment reports, financial statements and other disclosures regarding the valuations and performance of the specific companies discussed herein.
DO NOT RELY ON ANY OPINIONS, PREDICTIONS OR FORWARD-LOOKING STATEMENTS CONTAINED HEREIN. Certain of the information contained in this video constitutes “forward-looking statements” that are inherently unreliable and actual events or results may differ materially from those reflected or contemplated herein. None of Whyinvestin or any of its representatives makes any assurance as to the accuracy of those predictions or forward-looking statements. Whyinvestin expressly disclaims any obligation or undertaking to update or revise any such forward-looking statements.
EXTERNAL SOURCES. Certain information contained herein has been obtained from third-party sources. Although Whyinvestin believes such sources to be reliable, we make no representation as to its accuracy or completeness.
FINANCIAL DATA. Historical and fundamental data, ratios, exchange rate, prices and estimates are provided by Xignite,www.xignite.com. Data are sourced by Morningstar research.
Whyinvestin does not verify any data and disclaims any obligation to do so. Whyinvestin, its data or content providers, the financial exchanges and each of their affiliates and business partners (A) expressly disclaim the accuracy, adequacy, or completeness of any data and (B) shall not be liable for any errors, omissions or other defects in, delays or interruptions in such data, or for any actions taken in reliance thereon. Neither Whyinvestin nor any of our information providers will be liable for any damages relating to your use of the information provided herein.
Please consult your broker or financial representative to verify pricing before executing any trade. Whyinvestin cannot guarantee the accuracy of the exchange rates used in the videos. You should confirm current rates before making any transactions that could be affected by changes in the exchange rates.
You agree not to copy, modify, reformat, download, store, reproduce, reprocess, transmit or redistribute any data or information found herein or use any such data or information in a commercial enterprise without obtaining prior written consent. Please consult your broker or financial representative to verify pricing before executing any trade.
COPYRIGHT “FAIRUSE” Whyinvestin doesn’t own any logo different from the whyinvestin’ s logo contained in the video. The owner of the logos is the subject of the video itself (the company); and all the logos are not authorized by, sponsored by, or associated with the trademark owner .
Whyinvestin uses exclusive rights held by the copyright owner for Educational purposes and for commentary and criticism as part of a news report or published article.
If you are a company, subject of the video and for any reason want to get in contact with Whyinvestin please email:
company@whyinvestin.com

Jeremy Grantham is a British investor and co-founder and chief investment strategist of Grantham, Mayo, & van Otterloo (GMO), a Boston-based asset management firm. GMO is one of the largest managers of such funds in the world, having more than US$118 billion in assets under management as of March 2015. Grantham is regarded as a highly knowledgeable investor in various stock, bond, and commodity markets, and is particularly noted for his prediction of various bubbles.
Event-driven strategies concern situations in which the underlying investment opportunity and risk are associated with an event. An event-driven investment strategy finds investment opportunities in corporate transactional events such as consolidations, acquisitions, recapitalizations, bankruptcies, and liquidations. Managers employing such a strategy capitalize on valuation inconsistencies in the market before or after such events, and take a position based on the predicted movement of the security or securities in question. Large institutional investors such as hedge funds are more likely to pursue event-driven investing strategies than traditional equity investors because they have the expertise and resources to analyze corporate transactional events for investment opportunities.
Corporate transactional events generally fit into three categories: distressed securities, risk arbitrage, and special situations. Distressed securities include such events as restructurings, recapitalizations, and bankruptcies. A distressed securities investment strategy involves investing in the bonds or loans of companies facing bankruptcy or severe financial distress, when these bonds or loans are being traded at a discount to their value. Hedge fund managers pursuing the distressed debt investment strategy aim to capitalize on depressed bond prices. Hedge funds purchasing distressed debt may prevent those companies from going bankrupt, as such an acquisition deters foreclosure by banks. While event-driven investing in general tends to thrive during a bull market, distressed investing works best during a bear market.
Risk arbitrage or merger arbitrage includes such events as mergers, acquisitions, liquidations, and hostile takeovers.[66] Risk arbitrage typically involves buying and selling the stocks of two or more merging companies to take advantage of market discrepancies between acquisition price and stock price. The risk element arises from the possibility that the merger or acquisition will not go ahead as planned; hedge fund managers will use research and analysis to determine if the event will take place.
Special situations are events that impact the value of a company's stock, including the restructuring of a company or corporate transactions including spin-offs, share-buy-backs, security issuance/repurchase, asset sales, or other catalyst-oriented situations. To take advantage of special situations the hedge fund manager must identify an upcoming event that will increase or decrease the value of the company's equity and equity-related instruments.
Other event-driven strategies include: credit arbitrage strategies, which focus on corporate fixed income securities; an activist strategy, where the fund takes large positions in companies and uses the ownership to participate in the management; a strategy based on predicting the final approval of new pharmaceutical drugs; and legal catalyst strategy, which specializes in companies involved in major lawsuits.
FAIRUSE NOTICE: This channel may make use of copyrighted material. This channel gains no profit from broadcasted content. In accordance with Title 17 U.S.C. Section 107, the material on this channel is offered publicly and without profit, to the public users of the internet for comment, non-profit, educational, and informational purpose. No copyright is claimed. This content is being posted here for financial educational purposes, so that investors will have a better understanding of financial markets.

Jeremy Grantham is a British investor and co-founder and chief investment strategist of Grantham, Mayo, & van Otterloo (GMO), a Boston-based asset management firm. GMO is one of the largest managers of such funds in the world, having more than US$118 billion in assets under management as of March 2015. Grantham is regarded as a highly knowledgeable investor in various stock, bond, and commodity markets, and is particularly noted for his prediction of various bubbles.
Event-driven strategies concern situations in which the underlying investment opportunity and risk are associated with an event. An event-driven investment strategy finds investment opportunities in corporate transactional events such as consolidations, acquisitions, recapitalizations, bankruptcies, and liquidations. Managers employing such a strategy capitalize on valuation inconsistencies in the market before or after such events, and take a position based on the predicted movement of the security or securities in question. Large institutional investors such as hedge funds are more likely to pursue event-driven investing strategies than traditional equity investors because they have the expertise and resources to analyze corporate transactional events for investment opportunities.
Corporate transactional events generally fit into three categories: distressed securities, risk arbitrage, and special situations. Distressed securities include such events as restructurings, recapitalizations, and bankruptcies. A distressed securities investment strategy involves investing in the bonds or loans of companies facing bankruptcy or severe financial distress, when these bonds or loans are being traded at a discount to their value. Hedge fund managers pursuing the distressed debt investment strategy aim to capitalize on depressed bond prices. Hedge funds purchasing distressed debt may prevent those companies from going bankrupt, as such an acquisition deters foreclosure by banks. While event-driven investing in general tends to thrive during a bull market, distressed investing works best during a bear market.
Risk arbitrage or merger arbitrage includes such events as mergers, acquisitions, liquidations, and hostile takeovers.[66] Risk arbitrage typically involves buying and selling the stocks of two or more merging companies to take advantage of market discrepancies between acquisition price and stock price. The risk element arises from the possibility that the merger or acquisition will not go ahead as planned; hedge fund managers will use research and analysis to determine if the event will take place.
Special situations are events that impact the value of a company's stock, including the restructuring of a company or corporate transactions including spin-offs, share-buy-backs, security issuance/repurchase, asset sales, or other catalyst-oriented situations. To take advantage of special situations the hedge fund manager must identify an upcoming event that will increase or decrease the value of the company's equity and equity-related instruments.
Other event-driven strategies include: credit arbitrage strategies, which focus on corporate fixed income securities; an activist strategy, where the fund takes large positions in companies and uses the ownership to participate in the management; a strategy based on predicting the final approval of new pharmaceutical drugs; and legal catalyst strategy, which specializes in companies involved in major lawsuits.
FAIRUSE NOTICE: This channel may make use of copyrighted material. This channel gains no profit from broadcasted content. In accordance with Title 17 U.S.C. Section 107, the material on this channel is offered publicly and without profit, to the public users of the internet for comment, non-profit, educational, and informational purpose. No copyright is claimed. This content is being posted here for financial educational purposes, so that investors will have a better understanding of financial markets.

The Basics Of Merger Arbitrage

This video will take you thought the basic mechanics of merger arbitrage. This is an investing style that attempts to create stable returns by purchasing shares...

This video will take you thought the basic mechanics of merger arbitrage. This is an investing style that attempts to create stable returns by purchasing shares of companies that have been announced publically are being acquired.
We’ll use an example of Warren Buffett his purchase of the Heinz Ketchup company to make the concept simpler to understand.
To discuss how you can add this strategy or other alternative strategies that can help protect your money in difficult markets, please call me and set up an appointment.
Dustin Van Der Hout is a portfolio manager that works with clients with a minimum of $1,000,000 of investable assets. He has a specialty in the use of alternative investments to protect capital and value investing to create value.
Dustin Van Der Hout
416-512-3698
www.dir.richardsongmp.com/web/dustin.vanderhout

This video will take you thought the basic mechanics of merger arbitrage. This is an investing style that attempts to create stable returns by purchasing shares of companies that have been announced publically are being acquired.
We’ll use an example of Warren Buffett his purchase of the Heinz Ketchup company to make the concept simpler to understand.
To discuss how you can add this strategy or other alternative strategies that can help protect your money in difficult markets, please call me and set up an appointment.
Dustin Van Der Hout is a portfolio manager that works with clients with a minimum of $1,000,000 of investable assets. He has a specialty in the use of alternative investments to protect capital and value investing to create value.
Dustin Van Der Hout
416-512-3698
www.dir.richardsongmp.com/web/dustin.vanderhout

THE MANAGER OF THE COLLINS ALTERNATIVE SOLUTIONS FUND, SAYS EVENT-DRIVEN & ACTIVIST HEDGE FUND STRATEGIES CURRENTLY ARE MOST ATTRACTIVE AND COULD RETURNLOWDOU...

THE MANAGER OF THE COLLINS ALTERNATIVE SOLUTIONS FUND, SAYS EVENT-DRIVEN & ACTIVIST HEDGE FUND STRATEGIES CURRENTLY ARE MOST ATTRACTIVE AND COULD RETURNLOW DOUBLE-DIGITS.
ANCHOR (OFF-CAMERA) ENGLISH SAYING:
Let me start first by asking you bout the stock market which has hit record after record, your opinion on what we're seeing in stocks; and when you have a market off to the races, is it the right time to move into alternatives?
STEVE MASON, MANAGER, COLLINS ALTERNATIVE SOLUTIONS FUND, (ENGLISH) SAYING:
Yeah, surely. It has been quite a year. If you look at stocks historically, you know, just based on raw fundamentals like P/E, you know, you can make an argument I think both ways. And I think that's kind of where we come down currently that it's not really rich or cheap right now so it's hard to make a directional call at this stage. And I think that suits alternatives very well. You still have a good technical backdrop for equities and an environment where you can have good situations in picking both longs and shorts which is always a very good environment for alternatives and specifically hedge fund strategies.
ANCHOR (OFF-CAMERA) ENGLISH SAYING:
And in fact, your fund uses several different strategies. Which strategy seems to be working best? Is it the long-short strategy or something else?
STEVE MASON, MANAGER, COLLINS ALTERNATIVE SOLUTIONS FUND, (ENGLISH) SAYING:
We think event-driven and activism are in very good environments right now and there's a few reasons why. If you look at the tailwind for those type of strategies, increased M&A, cash on companies' balance sheets continues to be at record levels in open credit market. All of those are very favorable backdrops for both event and activism. You know, specifically with activism, you know the situation in addition where you have that favorable environment which you have boards that are much more receptive to constructive dialogue from activist investors. And that's something that's only changed in the past two or three years. So we think when you combine all those together, you have a favorable backdrop for those type of strategies. But generally speaking, long/short equ...

THE MANAGER OF THE COLLINS ALTERNATIVE SOLUTIONS FUND, SAYS EVENT-DRIVEN & ACTIVIST HEDGE FUND STRATEGIES CURRENTLY ARE MOST ATTRACTIVE AND COULD RETURNLOW DOUBLE-DIGITS.
ANCHOR (OFF-CAMERA) ENGLISH SAYING:
Let me start first by asking you bout the stock market which has hit record after record, your opinion on what we're seeing in stocks; and when you have a market off to the races, is it the right time to move into alternatives?
STEVE MASON, MANAGER, COLLINS ALTERNATIVE SOLUTIONS FUND, (ENGLISH) SAYING:
Yeah, surely. It has been quite a year. If you look at stocks historically, you know, just based on raw fundamentals like P/E, you know, you can make an argument I think both ways. And I think that's kind of where we come down currently that it's not really rich or cheap right now so it's hard to make a directional call at this stage. And I think that suits alternatives very well. You still have a good technical backdrop for equities and an environment where you can have good situations in picking both longs and shorts which is always a very good environment for alternatives and specifically hedge fund strategies.
ANCHOR (OFF-CAMERA) ENGLISH SAYING:
And in fact, your fund uses several different strategies. Which strategy seems to be working best? Is it the long-short strategy or something else?
STEVE MASON, MANAGER, COLLINS ALTERNATIVE SOLUTIONS FUND, (ENGLISH) SAYING:
We think event-driven and activism are in very good environments right now and there's a few reasons why. If you look at the tailwind for those type of strategies, increased M&A, cash on companies' balance sheets continues to be at record levels in open credit market. All of those are very favorable backdrops for both event and activism. You know, specifically with activism, you know the situation in addition where you have that favorable environment which you have boards that are much more receptive to constructive dialogue from activist investors. And that's something that's only changed in the past two or three years. So we think when you combine all those together, you have a favorable backdrop for those type of strategies. But generally speaking, long/short equ...

KPPC has been formed as a roll-up in the paper and packaging industry by a Special PurposeAcquisitionCorporation (SPAC). A SPAC issues shares and warrants to investors and uses to capital to perform an acquisition. As a result, KPPC had a large number of warrants expire on Aug 17, which created an overhang on the stock and in interesting dynamic. The share price was range bound for 3 months and then traded up 30% in just a couple of days. We are using this situation as an example of event-driven investing.

KPPC has been formed as a roll-up in the paper and packaging industry by a Special PurposeAcquisitionCorporation (SPAC). A SPAC issues shares and warrants to investors and uses to capital to perform an acquisition. As a result, KPPC had a large number of warrants expire on Aug 17, which created an overhang on the stock and in interesting dynamic. The share price was range bound for 3 months and then traded up 30% in just a couple of days. We are using this situation as an example of event-driven investing.

Banner Days for Event-Driven Funds Due to Dealmaking Frenzy

The surge in deal-making has created the ideal environment for merger arbitrage or event-driven funds, said K.C.Nelson, portfolio manager for the Driehaus Even...

The surge in deal-making has created the ideal environment for merger arbitrage or event-driven funds, said K.C.Nelson, portfolio manager for the Driehaus EventDriven Fund. Nelson added that the Driehaus fund uses stocks, bonds and equity and credit derivatives to establish a position on a deal. He said his fund profited from the risk arbitrage spread in the attempted merger between Comcast and Time Warner Cable and believes there is better than a 50/50 chance that Time Warner Cable will be acquired by Charter Communications. Meanwhile, Nelson said he is long Teva through call options as it pursues Mylan.
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The surge in deal-making has created the ideal environment for merger arbitrage or event-driven funds, said K.C.Nelson, portfolio manager for the Driehaus EventDriven Fund. Nelson added that the Driehaus fund uses stocks, bonds and equity and credit derivatives to establish a position on a deal. He said his fund profited from the risk arbitrage spread in the attempted merger between Comcast and Time Warner Cable and believes there is better than a 50/50 chance that Time Warner Cable will be acquired by Charter Communications. Meanwhile, Nelson said he is long Teva through call options as it pursues Mylan.
Subscribe to TheStreetTV on YouTube: http://t.st/TheStreetTV
For more content from TheStreet visit: http://thestreet.com
Check out all our videos: http://youtube.com/user/TheStreetTV
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What is EVENT-DRIVEN INVESTING? What does EVENT-DRIVEN INVESTING mean?

What is EVENT-DRIVEN INVESTING? What does EVENT-DRIVEN INVESTING mean? EVENT-DRIVEN INVESTING meaning - EVENT-DRIVEN INVESTING definition - EVENT-DRIVEN INVESTING explanation.
Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license.
Event-driven investing is a hedge fund investment strategy that seeks to exploit pricing inefficiencies that may occur before or after a corporate event, such as an earnings call, bankruptcy, merger, acquisition, or spinoff.
Event-driven investing strategies are typically used only by sophisticated investors, such as hedge funds and private equity firms. That’s because traditional equity investors, including managers of equity mutual funds, do not have the expertise or access to information necessary to properly analyze the risks associated with many of these corporate events.
This strategy was successfully utilized by Cornwall Capital and profiled in "The Big Short" by Michael Lewis.
Event-driven investing "lost on average 1.4 percent in 2015" making them the poorest performers in 2015 despite a record year of mergers and acquisitions partially because funds over purchased only the largest corporate deals.
According to Philippe Ferreira of Lyxor Asset Management, the healthcare sector — which includes pharmaceuticals — has a sizable exposure to event-driven hedge funds and by August 2015 healthcare had "contributed about 60% of event-driven hedge funds' year-to-date gains...making it the strongest contributor by a large margin." According to Dealogic, by August health care merges and acquisitions (M&A) were up 42%, with "an all-time high of $422.8 billion;" in 2014 the high was $429.3 billion for the entire year and also set a record. New event-driven hedge funds were launched for example, New-York-based Kellner had launched event-driven hedge fund, Capital with Chris Pultz and California-based OmniPartners launched event-driven investing funds such as Omni Event Fund with John Melsom as chief investment officer. Melsom noted that by 2015 there was a lot of consolidation in the healthcare sector especially in pharmaceuticals which gave "exceptionally wide spreads." President Obama's US healthcare reforms led to regulatory uncertainty in healthcare. Melsom's Omni Event Fund returned 14.9% from January through June 2015,
"...helped gains from drug maker Valeant Pharmaceuticals' $11 billion acquisition of specialist drug maker Salix Pharmaceuticals; AbbVie’s acquisition of cancer biotech company Pharmacyclics for $21 billion; and also the decision by US pharmacy benefit manager UnitedHealth to buy rival Catamaran for $12.8 billion."
—?Hedgeweek August 2015

0:44

For Deal Makers - Merger Arbitrage: How To Profit From Event-Driven Arbitrage

How Deal Makers can benefit from my book "Merger Arbitrage: How To Profit From Event-Drive...

Event-Driven Strategies

Event-Driven Strategies
Presented by Larry McMillan, President of McMillan Analysis Corporation
Certain event dates are known to the options market in advance (earnings announcements, FDA hearings, etc.). At these times, options' implied volatilities take on a very sharp skew; near-term options, for example, may be quite expensive.
We'll look at how to trade these event-driven strategies, covering strategies involving both the buying and selling of options. The strategies involved are straddle buying, butterfly spreads and dual calendar spreads; each of which can be apropos in multiple situations.

0:46

For Investors - Merger Arbitrage: How To Profit From Event-Driven Arbitrage

How Investors Benefit from Reading My Book "Merger Arbitrage: How To Profit From Event-Dri...

Arbitrage Event Driven A

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Jeremy Grantham is a British investor and co-founder and chief investment strategist of Grantham, Mayo, & van Otterloo (GMO), a Boston-based asset management firm. GMO is one of the largest managers of such funds in the world, having more than US$118 billion in assets under management as of March 2015. Grantham is regarded as a highly knowledgeable investor in various stock, bond, and commodity markets, and is particularly noted for his prediction of various bubbles.
Event-driven strategies concern situations in which the underlying investment opportunity and risk are associated with an event. An event-driven investment strategy finds investment opportunities in corporate transactional events such as consolidations, acquisitions, recapitalizations, bankruptcies, and liquidations. Managers employing such a strategy capitalize on valuation inconsistencies in the market before or after such events, and take a position based on the predicted movement of the security or securities in question. Large institutional investors such as hedge funds are more likely to pursue event-driven investing strategies than traditional equity investors because they have the expertise and resources to analyze corporate transactional events for investment opportunities.
Corporate transactional events generally fit into three categories: distressed securities, risk arbitrage, and special situations. Distressed securities include such events as restructurings, recapitalizations, and bankruptcies. A distressed securities investment strategy involves investing in the bonds or loans of companies facing bankruptcy or severe financial distress, when these bonds or loans are being traded at a discount to their value. Hedge fund managers pursuing the distressed debt investment strategy aim to capitalize on depressed bond prices. Hedge funds purchasing distressed debt may prevent those companies from going bankrupt, as such an acquisition deters foreclosure by banks. While event-driven investing in general tends to thrive during a bull market, distressed investing works best during a bear market.
Risk arbitrage or merger arbitrage includes such events as mergers, acquisitions, liquidations, and hostile takeovers.[66] Risk arbitrage typically involves buying and selling the stocks of two or more merging companies to take advantage of market discrepancies between acquisition price and stock price. The risk element arises from the possibility that the merger or acquisition will not go ahead as planned; hedge fund managers will use research and analysis to determine if the event will take place.
Special situations are events that impact the value of a company's stock, including the restructuring of a company or corporate transactions including spin-offs, share-buy-backs, security issuance/repurchase, asset sales, or other catalyst-oriented situations. To take advantage of special situations the hedge fund manager must identify an upcoming event that will increase or decrease the value of the company's equity and equity-related instruments.
Other event-driven strategies include: credit arbitrage strategies, which focus on corporate fixed income securities; an activist strategy, where the fund takes large positions in companies and uses the ownership to participate in the management; a strategy based on predicting the final approval of new pharmaceutical drugs; and legal catalyst strategy, which specializes in companies involved in major lawsuits.
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The Basics Of Merger Arbitrage

This video will take you thought the basic mechanics of merger arbitrage. This is an investing style that attempts to create stable returns by purchasing shares of companies that have been announced publically are being acquired.
We’ll use an example of Warren Buffett his purchase of the Heinz Ketchup company to make the concept simpler to understand.
To discuss how you can add this strategy or other alternative strategies that can help protect your money in difficult markets, please call me and set up an appointment.
Dustin Van Der Hout is a portfolio manager that works with clients with a minimum of $1,000,000 of investable assets. He has a specialty in the use of alternative investments to protect capital and value investing to create value.
Dustin Van Der Hout
416-512-3698
www.dir.richardsongmp.com/web/dustin.vanderhout

THE MANAGER OF THE COLLINS ALTERNATIVE SOLUTIONS FUND, SAYS EVENT-DRIVEN & ACTIVIST HEDGE FUND STRATEGIES CURRENTLY ARE MOST ATTRACTIVE AND COULD RETURNLOW DOUBLE-DIGITS.
ANCHOR (OFF-CAMERA) ENGLISH SAYING:
Let me start first by asking you bout the stock market which has hit record after record, your opinion on what we're seeing in stocks; and when you have a market off to the races, is it the right time to move into alternatives?
STEVE MASON, MANAGER, COLLINS ALTERNATIVE SOLUTIONS FUND, (ENGLISH) SAYING:
Yeah, surely. It has been quite a year. If you look at stocks historically, you know, just based on raw fundamentals like P/E, you know, you can make an argument I think both ways. And I think that's kind of where we come down currently that it's not really rich or cheap right now so it's hard to make a directional call at this stage. And I think that suits alternatives very well. You still have a good technical backdrop for equities and an environment where you can have good situations in picking both longs and shorts which is always a very good environment for alternatives and specifically hedge fund strategies.
ANCHOR (OFF-CAMERA) ENGLISH SAYING:
And in fact, your fund uses several different strategies. Which strategy seems to be working best? Is it the long-short strategy or something else?
STEVE MASON, MANAGER, COLLINS ALTERNATIVE SOLUTIONS FUND, (ENGLISH) SAYING:
We think event-driven and activism are in very good environments right now and there's a few reasons why. If you look at the tailwind for those type of strategies, increased M&A, cash on companies' balance sheets continues to be at record levels in open credit market. All of those are very favorable backdrops for both event and activism. You know, specifically with activism, you know the situation in addition where you have that favorable environment which you have boards that are much more receptive to constructive dialogue from activist investors. And that's something that's only changed in the past two or three years. So we think when you combine all those together, you have a favorable backdrop for those type of strategies. But generally speaking, long/short equ...

2:22

Event-driven Investing: KPPC (part 1 of 4)

KPPC has been formed as a roll-up in the paper and packaging industry by a Special Purpose...

Event-driven Investing: KPPC (part 1 of 4)

KPPC has been formed as a roll-up in the paper and packaging industry by a Special PurposeAcquisitionCorporation (SPAC). A SPAC issues shares and warrants to investors and uses to capital to perform an acquisition. As a result, KPPC had a large number of warrants expire on Aug 17, which created an overhang on the stock and in interesting dynamic. The share price was range bound for 3 months and then traded up 30% in just a couple of days. We are using this situation as an example of event-driven investing.

4:38

Banner Days for Event-Driven Funds Due to Dealmaking Frenzy

The surge in deal-making has created the ideal environment for merger arbitrage or event-d...

Banner Days for Event-Driven Funds Due to Dealmaking Frenzy

The surge in deal-making has created the ideal environment for merger arbitrage or event-driven funds, said K.C.Nelson, portfolio manager for the Driehaus EventDriven Fund. Nelson added that the Driehaus fund uses stocks, bonds and equity and credit derivatives to establish a position on a deal. He said his fund profited from the risk arbitrage spread in the attempted merger between Comcast and Time Warner Cable and believes there is better than a 50/50 chance that Time Warner Cable will be acquired by Charter Communications. Meanwhile, Nelson said he is long Teva through call options as it pursues Mylan.
Subscribe to TheStreetTV on YouTube: http://t.st/TheStreetTV
For more content from TheStreet visit: http://thestreet.com
Check out all our videos: http://youtube.com/user/TheStreetTV
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Merger Arbitrage How to Profit from Global Event ...

Merger Arbitrage A Fundamental Approach to Event D...

It turns out that a theory explaining how we might detect parallel universes and prediction for the end of the world was proposed and completed by physicist Stephen Hawking shortly before he died ... &nbsp;. According to reports, the work predicts that the universe would eventually end when stars run out of energy ... ....

In another blow to the Trump administration Monday, the US Supreme Court decided Arizona must continue to issue state driver’s licenses to so-called Dreamer immigrants and refused to hear an effort by the state to challenge the Obama-era program that protects hundreds of thousands of young adults brought into the country illegally as children, Reuters reported ... – WN.com. Jack Durschlag....

An explosion on Sunday night in Austin shared "similarities" with three bombs that went off in the Texas capital earlier this month and authorities were warning on Monday that they are dealing with a serial bomber who is targeting the city, according to the Washington Post... “So we’ve definitely seen a change in the method that this suspect … is using.” ... “And we assure you that we are listening ... -WN.com, Maureen Foody....

Uber announced on Monday that it was pulling all of its self-driving cars from public roads in Arizona and San Francisco, Toronto, and Pittsburgh after a female pedestrian was reportedly killed after being struck by an autonomous Uber vehicle in Tempe, according to The Verge.&nbsp; ... “We are fully cooperating with local authorities in their investigation of this incident.” ... "Some incredibly sad news out of Arizona....

A panel of federal judges dismissed the Republican lawsuit challenging a new congressional map that was imposed by the Pennsylvania Supreme Court, ending one of two challenges to the map on Monday, according to The Inquirer. The judge's decision said that the Republican lawmakers who brought the challenge did not have legal standing to do so and that the case is inappropriate for the court to take up at this time ...ChiefU.S....

The news outlet called the traders “coders with a Ph.D.” and the firm specializes in lots of arbitrage trades ...Arbitrage opportunities in the world of cryptocurrencies and bitcoin are very tempting to firms like Jane Street because spreads can be very high on different trading platforms. GlobalBTC exchanges can have as much as 10 percent in arbitrage opportunities between each trading venue....

The public narrative put forth by Wall Street concerning bitcoin and cryptocurrency is often that of criticism or ambivalence ... Bitcoin in the Mix ... Advertisement. advertisement ... There is also the opportunity to make good returns from arbitrage opportunities ... According to Toby Allen of Akuna Capital, cryptos can have as much as ten percent trading arbitrage which can ensure considerable profits for any trader. Category ... Tags ... ....

CryptoMedicated provides a great outline of how the Mt. Gox whale may not have precipitated the large drop in the price of bitcoin since December 2017... Gox ‘sell-off.’.Above is a picture of the recent drop in price over the previous seven days from the time of writing ... Gox. Source ... Source ... What’s ‘Mt. Gox’?. Mt ... What Went Wrong? ... Mt ... Why? ... #4 – Arbitrage ... Thus, the process of ‘arbitrage’ would have covered the price here. What is Arbitrage?....

On Thursday (March 15, 2018) The San Jose WaterGroup (SJW) and Connecticut Water Service (CTWS) announced a plan to merge. Based on FY 2017 results and stock prices at the time of the merger, the proposed company would be the third largest investor-owned water utility in the U.S ...Source... Source ... Source ... It appears the market is banking on the deal going through, so there is very little alpha to be found in the merger arbitrage ... ....

BrigadeCapitalManagement, LP (“Brigade”), on behalf of funds managed by it, today released its letter to the CEO and Board of Directors (the “Board”) of Kindred Healthcare, Inc ... In its letter, Brigade cited the following reasons for its opposition ... A copy of the letter accompanies this press release ... March 19, 2018 ... Breier ... The core strategies include long/short credit, distressed debt, capital structure arbitrage and levered equities....

MFD is co-managed with First Trust. Trade Fund TickerYieldPremium/discount 1-year z-score ... (Source. CEFConnect ... (Source ... (Source ... If you have enjoyed my article, please click the "Follow" button next to my name to be alerted to my new free content! The Cambridge Income Laboratory is my Marketplace service on Seeking Alpha focused on income and arbitrage strategies for closed-end fund (CEF) and exchange-traded fund (ETF) portfolios ... ....

I will also be taking ETF suggestions, so do let me know if you have any ETFs on your horizon ... ETF Month #4 ... MSCI EAFE ... Source ... Avg ... If you have enjoyed my article, please click the "Follow" button next to my name to be alerted to my new free content! The Cambridge Income Laboratory is my Marketplace service on Seeking Alpha focused on income and arbitrage strategies for closed-end fund ((CEF)) and exchange-traded fund ((ETF)) portfolios....

I will also be taking ETF suggestions, so do let me know if you have any ETFs on your horizon ... Most ETFs are passively managed ... DUST ... If you have enjoyed my article, please click the "Follow" button next to my name to be alerted to my new free content! The Cambridge Income Laboratory is my Marketplace service on Seeking Alpha focused on income and arbitrage strategies for closed-end fund (CEF) and exchange-traded fund (ETF) portfolios ... ....